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Spot prices for PE, PP in the Middle East to remain weak for the rest of June

June 08/2011

(ICIS) -- Spot prices of polymers in the Middle East will likely remain weak for the rest of June, taking the cue from Chinas bearish market, industry players said on Wednesday. Polyethylene (PE) and polypropylene (PP) values for June shipments are down USD 50-120/tonne (EUR 34-82/tonne) from May, according to ICIS data.

PP raffia prices tumbled for the third consecutive week after hitting a 10-month high, shedding USD120/tonne to USD 1.590-1.630/tonne DEL (delivered) GCC (Gulf Cooperation Council) and USD 1.620-1.650/tonne DEL East Med (Mediterranean), market sources said.

Meanwhile, prices of various linear low density PE (LLDPE) film, high density PE (HDPE) film and low density PE (LDPE) film for June shipments fell USD 50-70/tonne over the same three-week period, they said.

In China, polymer prices were much lower, with PP raffia at USD 1.530-1.590/tonne CFR China; LLDPE film at USD 1.230-1.280/tonne CFR China; HDPE film at USD 1.330-1.350/tonne CFR China, and LDPE film at USD 1.530-1.580/tonne CFR China, on Wednesday.

Tags:PP, PE.
Category:General News
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